Ukraine is set to nationalize Motor Sich, one of the world’s top makers of engines for cargo aircraft and helicopters, to prevent a long-running Chinese takeover attempt that has been strongly opposed by the US, reported the Financial Times.
“The Motor Sich enterprise will be returned to the Ukrainian people, it will be returned to the ownership of the Ukrainian state in a legal, constitutional manner in the near future,” said Oleksiy Danilov, Ukraine’s national security chief, on Thursday.
“This is being done for the national security of our country,” he added. China’s Skyrizon is the majority shareholder in Motor Sich, reported the FT.